Seeking Alpha

AstraZeneca, Almirall announce $2.1B deal

  • AstraZeneca (NYSE:AZN) has closed on a deal to purchase the rights to lung drugs developed by Almirall (OTC:LBTSF), expanding the drug-maker's respiratory medicine portfolio.
  • "Our agreement with Almirall brings strategic and long-term value to AstraZeneca's strong respiratory franchise, one of our key growth platforms," says CEO Pascal Soriot.
  • The acquisition is worth up to $2.1B, with an initial $875M to be paid up front, and up to $1.2B in development.
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